TORONTO, ONTARIO--(Marketwire - Dec.
1, 2009) - High River Gold Mines Ltd. ("High River" or the
"Company")(TSX:HRG) announced today that the Toronto Stock
Exchange (the "TSX") has received and cleared the Personal
Information Form (the "PIF") in respect of Polenica
Investments Limited ("Polenica") in connection with the
previously announced proposed private placement (the "Private
Placement") of 150,000,000 common shares of the Company (the
"Shares") to Polenica, an affiliate of Troika Dialog Group.
As previously
announced, the TSX has conditionally approved the Private Placement,
which involves Polenica acquiring the Shares at a price of CDN$0.38 per
Share for total proceeds of approximately CDN$57 million. Closing of
the Private Placement is expected to occur on or about December 2,
2009.
About High River
High River is unhedged gold company with interests in producing mines
and advanced exploration projects in Russia and Burkina Faso. Two
producing mines, Zun-Holba and Irokinda, are situated in the Lake Baikal
region of Russia. Two new open pit gold mines, Berezitovy in Russia and
Taparko-Bouroum in Burkina Faso, are also in production. Finally, High
River has two advanced exploration projects with NI 43-101 compliant
resource estimates, the Bissa gold project in Burkina Faso and 50%
interest in the Prognoz silver project in Russia.
FORWARD LOOKING INFORMATION
This release contains forward-looking statements. Wherever possible,
words such as "intends", "expects",
"scheduled", "estimates", "anticipates", "believes",
and similar expressions or statements that certain actions, events or
results "may", "could", "would",
"might" or "will" be taken, occur or be achieved,
have been used to identify these forward-looking statements. This news
release includes forward-looking statements with respect to the
proposed Private Placement. Although the forward-looking statements
contained in this release reflect management's current beliefs based
upon information currently available to management and based upon what
management believes to be reasonable assumptions, High River cannot be
certain that actual results will be consistent with these
forward-looking statements. In addition to the risk that the Private
Placement may not close on the terms disclosed in this news release, or
at all, a number of factors could cause events and achievements to
differ materially from the results expressed or implied in the
forward-looking statements. These factors should be considered
carefully and prospective investors should not place undue reliance on
the forward-looking statements. Forward-looking statements necessarily
involve significant known and unknown risks, assumptions and
uncertainties that may cause High River's actual results, event,
prospects and opportunities to differ materially from those expressed
or implied by such forward-looking statements. Although High River has
attempted to identify important risks and factors that could cause
actual actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors and
risks that cause actions, events or results not to be anticipated,
estimated or intended. There can be no assurance that the
forward-looking statements will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, prospective investors should not place
undue reliance on forward-looking statements. Any forward-looking
statements are made as of the date of this release, and High River
assumes no obligation to update or revise them to reflect new events or
circumstances, unless otherwise required by law.
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